Foster & Motley Inc. Grows Stake in Cirrus Logic, Inc. $CRUS

Foster & Motley Inc. grew its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 139.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,428 shares of the semiconductor company’s stock after acquiring an additional 12,486 shares during the quarter. Foster & Motley Inc.’s holdings in Cirrus Logic were worth $2,539,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Cirrus Logic in the 2nd quarter worth about $68,744,000. Vaughan Nelson Investment Management L.P. increased its stake in Cirrus Logic by 546.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company’s stock valued at $46,005,000 after purchasing an additional 328,159 shares in the last quarter. Vanguard Group Inc. increased its stake in Cirrus Logic by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock valued at $829,724,000 after purchasing an additional 268,560 shares in the last quarter. SG Americas Securities LLC raised its holdings in Cirrus Logic by 1,356.2% in the third quarter. SG Americas Securities LLC now owns 171,165 shares of the semiconductor company’s stock worth $21,445,000 after buying an additional 159,411 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Cirrus Logic in the third quarter worth approximately $19,508,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Scott Thomas sold 3,239 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $141.63, for a total value of $458,739.57. Following the transaction, the executive vice president directly owned 30,393 shares in the company, valued at $4,304,560.59. This trade represents a 9.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Justin E. Dougherty sold 3,000 shares of Cirrus Logic stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total value of $429,480.00. Following the completion of the sale, the executive vice president directly owned 5,876 shares of the company’s stock, valued at $841,208.16. The trade was a 33.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 28,045 shares of company stock valued at $3,835,300. Company insiders own 1.16% of the company’s stock.

Cirrus Logic Stock Up 4.5%

Shares of NASDAQ CRUS opened at $144.62 on Wednesday. The firm’s 50-day moving average price is $137.71 and its 200-day moving average price is $128.12. The company has a market cap of $7.38 billion, a PE ratio of 19.05 and a beta of 1.12. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $154.90.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.60. The firm had revenue of $580.62 million during the quarter, compared to analysts’ expectations of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.51 earnings per share. As a group, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CRUS shares. Barclays increased their price target on shares of Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Friday. Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a research note on Monday, February 2nd. Finally, Benchmark lifted their target price on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and an average target price of $146.86.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.